Foreigners invested a record $153 billion in US housing

Moscow. July 19. INTERFAX.RU – Foreign nationals and recent immigrants have invested in the purchase of housing in the USA the record sum – $153 billion for the 12 months ended March 31, 2017, the study says the National Association of realtors (NAR) USA. The increase compared to the previous period was 49%.

In total, foreigners have bought 284,5 thousand objects of real estate in the United States (an increase of 32%). In dollar terms they purchase has risen to 10% of the total volume of the secondary housing market from 8% a year earlier.

“Political and economic uncertainty in our country and abroad has not stopped foreigners from increased purchases of property in geometrical progression,” said NAR chief economist Lawrence Yun. The Chinese are already the fourth consecutive year, were the main buyers of housing in the US among foreigners, setting a new record at $31.7 billion (+16.1 per cent).

In addition, significantly increased demand from Canada: its citizens for the 12 months ended in March, bought houses and apartments in USA for a record $19 billion versus $8.9 billion a year earlier, when sales of Canadians fell by more than 20%. According to young Canadians choose expensive real estate in the United States, which, however, cheaper than comparable properties in Canada, where prices rise through the roof in recent months.

The top 5 also included the British spent on housing in US $9.5 billion, Mexicans ($9.3 billion) and the Indians ($7.8 billion). On average, foreigners pay $302,3 thousand for a house or apartment in the United States, which is 9% more than last year. The average price on the American housing market as a whole amounted to $235.8 thous

About 10% of foreign buyers bought real estate worth more than $1 million Most popular foreign States are Florida (22% of transactions), California and Texas (12%). If Canadians prefer Florida, the Chinese often choose California, and the Mexican – Texas.